Synergy Health plc (SYR.L) and SRI/Surgical Express, Inc. (STRC) announced the successful completion of Synergy Health plc's acquisition of SRI for about $25 million through a cash tender offer. As a result of the acquisition, SRI became a wholly-owned subsidiary of Synergy Health plc.
The company said this was followed by a short-form merger of Synergy Health plc's wholly-owned subsidiary in the United States, SHM Acquisition, Inc., with and into SRI.
At the effective time of the merger, shares of SRI common stock held by the remaining SRI shareholders who did not tender their shares in the tender offer were cancelled and converted into the right to receive the same $3.70 per share price, without interest and subject to any required withholding taxes, that was paid in the tender offer, Synergy said.
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